Bank of America You Are Still A Mess!

Real Estate Broker/Owner with CEO/Owner/Team Leader/Keller Williams Executives Realty LLC

Bank of America You Are Still A Mess!

Nine months ago a sweet couple who ran into a series of bad events and an ever softening real estate market called us to ask us to short sale their condo. A few short years ago they bought it new for 140K and this same condo is now worth about 70K or less.

The problem is not getting offers or a contract. We have had an amazing buyer hang in this transaction for six months.

Now after 8 negotiators and a BPO which came in for less than the contract price, Bank of America wants more money and more paperwork!

I am not a complainer by nature. In fact almost everything I blog about is upbeat and positive.

I have had it with our banks and our financial institutions. We have a full time, experienced short sale team who works with an attorney group working to get this done. Bank of America brags on a regular basis about their amazing help to consumers and the real estate industry. Bank of America you have failed miserably this time.

Today I was at my local grocery store and noticed the bank located in the store is offering a whopping 2.22% when you open an account! Wow this is so awesome, until you consider that it costs most home buyers about 5% to buy a home. It gets even worse as a college student getting a school loan today is going to pay about 8.5% for their education.

Greed is at the core and I for one am standing up today to speak about how wrong this is. I want to see real change in our country and in our world. My prayers are that men and women with integrity will be put into positions of authority to bring about the kind of change we really need.

Besides speaking up, a few of us are meeting regularly to pray and work toward what is needed. Even in the midst of being angry and disappointed I believe that we can see things turn around.

I hope you will join me in praying and being part of the voices that are speaking up and working together to find good solutions for the problems we encounter today.

Let goodness, honesty and integrity prevail!


Comments (2)

Paul Lesieur
203kloanmn - North Oaks, MN

Actually I have had nothing but OK deals with BofA.


Wells Fargo was hell.


I think a lot depends on the brokers and the office.

I'm not saying they are perfect, but I am happy with my broker.

Jun 17, 2011 01:29 PM
Karen Monsour
Coldwell Banker Fort Lauderdale Beach - Fort Lauderdale, FL
REALTOR, SSRS - Sells FL Waterfront, Short Sale Expert!

I feel your pain.  It took me a year and 10 days to close a deal with them. It was listed at $1,975,000.00 and it sold for $1,050,000.00. That was before Equator. The problem is not Equator, it is the lack of training on the system. The constant staff changes, etc.  The total Bank of America system is broke.  Someone needs to fix our government.  The worst situation is when you have a short sale that says the buyers have to be pre-approved through BoA!  NO ONE, wants to get involved with this bank in any manner.

Jun 17, 2011 01:40 PM